Time And Factor Reversal Test Of Index Numbers PdfBy Versprocunta In and pdf 18.04.2021 at 07:43 3 min read
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Index number was first constructed in:. Index number is specialised average designed to measure the change in a group of related variables over a period of time. An index number calculated with a single variable is called univariate index.
- Tests of Adequacy - Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev
- Factor Reversal Test
- Tests of Consistency of Index Number
There are certain tests which are put to verify the consistency, or adequacy of an index number formula from different points of view. The most popular among these are the following tests:. At the outset, it should be noted that it is neither possible nor necessary for an index-number formula to satisfy all the tests mentioned above.
Tests of Adequacy - Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev
The new index numbers, which were introduced in Chapter 3, were designed not only to avoid the one-sidedness of the Laspeyres and Paasche measures of volume and price change, but also to meet the requirements of multiplicative as well as additive analysis of value changes of commodity aggregates into a volume and a price component. Having been designed with these objectives in mind, these index numbers have a number of properties which make them particularly suitable measures of volume and price change from an analytical point of view. In this chapter we aim to find out what these properties are, the extent to which they are shared by other index numbers and also whether by any chance the other index numbers have any useful properties which the new index numbers do not have. The method by which we establish whether or not a given type of index number possesses certain properties is the time-honoured one of applying appropriate tests to it. Unable to display preview. Download preview PDF.
Factor Reversal Test
This paper presents the results of a pilot test performed on a real medium voltage distribution network in Switzerland with the aim of assessing the performance of a fault location system relying on the Electromagnetic Time Reversal EMTR method. Complete the form below to receive an email with the authorization code needed to reset your password. Please try again. Answer 1 of 1 : Time reversal test states that if the time subscripts that are o and n of a price or a quantity index number formula be interchanged, then the resulting price or quantity index formula should be the reciprocal of the original formula. Nuclear physics tests of parity- and time-reversal invariance have both shaped the development of the Standard Model and provided key tests of its predictions.
Time Reversal Test Prof. Irving Fisher has made a careful study of the various proposals for computing index numbers and has suggested various tests to be applied to any formula to indicate whether or not it is satisfactory. The two most important of these he calls the time reversal test and the factor reversal test. Time reversal test is a test to determine whether a given method will work both ways in time, forward and backward. If the product is not unity, there is said to be a time bias in the method.
However the problem still remains of selecting an appropriate method for the construction of an index number in a given situation. The following tests can be applied to find out the adequacy of an index number. Unit Test - This test requires that the index number formulae should be independent of the units in which prices or quantities of various commodities are quoted. For example in a group of commodities, while the price of wheat might be in kgs. Except for the simple unweighted aggregative index, all other formulae discussed above satisfy this test.
Except for unweighted aggregative index number, all other indices satisfy this test. Time Reversal Test: This test guides whether the method.
Tests of Consistency of Index Number
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Several formulae have been suggested for constructing index numbers and the problem is that of selecting the most appropriate one in a given situation.
B Com : Tests of Adequacy - Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev
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